Tenaya Therapeutics' (TNYA) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for Tenaya Therapeutics (TNYA) with a target price of $5.00, suggesting a potential upside of 342.48% from its previous close.
• Other analysts also reflect a positive outlook, with Chardan Capital giving a $9.00 target price and six analysts currently rating the stock as a buy.
• Tenaya Therapeutics reported an earnings per share of ($0.14), surpassing estimates, and institutional investors now hold over 90% of the company's stock.

HC Wainwright reissued their buy rating on shares of Tenaya Therapeutics (NASDAQ:TNYA - Free Report) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $5.00 price target on the stock.

A number of other research firms have also weighed in on TNYA. Wall Street Zen raised shares of Tenaya Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Chardan Capital restated a "buy" rating and set a $9.00 price objective on shares of Tenaya Therapeutics in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $6.25.

Tenaya Therapeutics Trading Up 8.9%

Shares of TNYA traded up $0.11 during trading hours on Tuesday, reaching $1.35. 4,595,417 shares of the stock traded hands, compared to its average volume of 4,219,438. The stock has a fifty day simple moving average of $0.87 and a 200 day simple moving average of $0.68. Tenaya Therapeutics has a 52 week low of $0.36 and a 52 week high of $4.01. The company has a market cap of $220.02 million, a price-to-earnings ratio of -1.41 and a beta of 3.07.

Tenaya Therapeutics (NASDAQ:TNYA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. Analysts predict that Tenaya Therapeutics will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaya Therapeutics

Several large investors have recently modified their holdings of the business. Woodline Partners LP increased its stake in shares of Tenaya Therapeutics by 30,563.2% in the first quarter. Woodline Partners LP now owns 5,916,167 shares of the company's stock worth $3,373,000 after purchasing an additional 5,896,873 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Tenaya Therapeutics in the first quarter worth about $442,000. Northern Trust Corp increased its stake in shares of Tenaya Therapeutics by 6.2% in the fourth quarter. Northern Trust Corp now owns 472,479 shares of the company's stock worth $676,000 after purchasing an additional 27,632 shares in the last quarter. Marex Group plc purchased a new position in shares of Tenaya Therapeutics in the second quarter worth about $252,000. Finally, Jane Street Group LLC increased its stake in shares of Tenaya Therapeutics by 1,958.7% in the second quarter. Jane Street Group LLC now owns 376,068 shares of the company's stock worth $230,000 after purchasing an additional 357,801 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company's stock.

Tenaya Therapeutics Company Profile

Tenaya Therapeutics, Inc, a biotechnology company, discovers, develops, and delivers therapies for heart disease in the United States. It develops its products through gene editing, cellular regeneration, and gene addition. The company is developing TN-201, a gene therapy for myosin binding protein C3-associated hypertrophic cardiomyopathy which is in phase 1 clinical trial; TN-301, a small molecule for heart failure with preserved ejection fraction which is in phase 1 clinical trial; and TN-401, a gene therapy for plakophilin 2-associated arrhythmogenic right ventricular cardiomyopathy which is in preclinical stage.